Short Take: Iomega reports loss
Iomega reported a first-quarter net loss of $18.6 million, in line with previously announced expectations, compared to a profit of $23 million in the first quarter of 1997. It attributed the loss to weak international sales, combined with approximately $20 million in incremental marketing expenses. The company said it expects to post a small loss or, at best, break even for the second and third quarters.
reported a first-quarter net loss
of $18.6 million, in line with previously announced
expectations, compared to a profit of $23 million in the first quarter of
1997. It attributed the loss to weak international
sales, combined with approximately $20 million in incremental marketing
expenses. The company said it expects to post a small
loss or, at best, break even for the second and third quarters.